Rwanda
Methodology
Last updated: 04/2016
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Legal and Regulatory Environment
The Companies Act 2009 sets the requirements for the preparation and presentation of financial statements in Rwanda, mandating that they be prepared in accordance with international accounting standards. The Law on the...
The accountancy profession in Rwanda is self-regulated by the Institute of Certified Public Accountants of Rwanda (iCPAR). iCPAR was established under the Law on the Institute of Certified Public Accountants (iCPAR) No...
The Institute of Certified Public Accountants of Rwanda (iCPAR) was established under the Law on the Institute of Certified Public Accountants (iCPAR) No. 11 of 2008 (iCPAR Law 2008) with the mandate to regulate the...
As part of the UK’s Department of International Development-funded IFAC professional accountancy organization (PAO) Capacity Building Program, the Association of Chartered Certified Accountants (ACCA) is working with...
Adoption of International Standards
The Law on the Institute of Certified Public Accountants (iCPAR) No. 11 of 2008 gives iCPAR the responsibility of establishing a quality assurance (QA) review system. iCPAR contracted the Association of Chartered...
The Institute of Certified Public Accountants (iCPAR) is mandated by the Law on the iCPAR No. 11 of 2008 to oversee training and education requirements—both initial and continuous professional development (IPD and CPD...
Article 3 of the Law on the Institute of Certified Public Accountants (iCPAR) No. 11 of 2008 mandates that iCPAR adopt and implement auditing standards in Rwanda. The Law requires that auditing standards in Rwanda be...
Article 82 of the Law on the Institute of Certified Public Accountants (iCPAR) No. 11 of 2008 provides that the Code of Professional Conduct and Ethics shall be established through a Ministerial Order. The provisions of...
The East African Community (EAC) Protocol includes a requirement for member states to adopt accrual-basis IPSAS for central and local governments, non-trading state-owned enterprise and regulatory bodies, and IFRS for...
In accordance with Article 40 of the Law on the Institute of Certified Public Accountants (iCPAR) No. 11 of 2008, iCPAR is responsible for the investigation and discipline (I&D) of its members for breach of rules and...
Article 3 of the Law on the Institute of Certified Public Accountants (iCPAR) No. 11 of 2008 provides that, within the private sector, the accounting standards must be consistent with IFRS. (iCPAR has adopted IFRS and...
Relevant OrganizationsInstitute of Certified Public Accountants of Rwanda (iCPAR)East African Community (EAC)Relevant LegislationiCPAR’s By-LawsLaw on the Institute of Certified Public Accountants (iCPAR) No. 11, 2008...
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